Section 554: Provisions relating to transfer of ownership of goods

1) If there is a contract for the sale of any specific or certain goods, the transfer of ownership goods shall be made as provided for in the contract, and failing such provision in the contract, the transfer shall be made according to the terms and conditions of the contract, intention of the parties, ascertained by having regard to the conduct of the parties, and the relevant circumstances.

2) Except as otherwise provided for in the contract, if a contract is concluded for the sale of any specific goods in a deliverable state, the parties shall be deemed to have the intention of transferring them when the contract is concluded or upon payment of the price of the goods.

3) If a contract is concluded for the sale of any specific goods in a deliverable state and the buyer has to take measurements, weigh, make an examination of the goods, or perform some acts to determine the price of such goods, such goods shall not be transferred until the buyer performs such acts and gives information thereof to the buyer within a reasonable time.

4) Except as otherwise provided for in the contract, a contract shall be deemed to have been concluded so that the goods sold or to be sold shall be transferred in the place where such goods are situated.

5) Except as otherwise provided for in the contract, the buyer shall be deemed to have the title or ownership of the goods at the time of the transfer of the goods to the buyer.